RateAPY

News That May Affect Your Online Savings Account

Posted by: RateAPY Bank Rates News
January 22nd, 2010

On tap for next week are several key news items that may affect interest rates long term. These interest rates may affect online savings accounts, money market accounts, and certificates of deposit, among other financial instruments.

State of the Union Address

President Obama plans to speak to Congress at 9 p.m. on January 27. Many in the banking industry will be listening to analyze the tone of possible changes in banking.

FOMC Meeting

On January 26 and 27, the Fed’s committee that decides monetary policy will announce if a change in interest rates is necessary. Most analysts believe interest rates will remain unchanged again. The Fed’s decisions may ultimately affect the interest rates on your online savings accounts, money market accounts, and certificates of deposit.

Last Week of Bernanke’s First Term

Many people expected Congress to vote by now to confirm Bernanke’s nomination for a second term as Fed Chairman. So far, no vote is scheduled.